sp'daily5
R2K
Trans
Summary
Well, no one can say today was 'boring'. The morning strength, with a spike to sp'1698..really suggested a close in the 1700s was likely..but no.
Once again the bulls failed to close above a very obvious psy' level, but I have to note, considering the strength still being seen in the Trans/R2K, I'm going to hold to the original target of sp'1710/20s within the near term.
Indeed, another 'small' up cycle will set up some perfect divergences across many indexes into next week...and that is where I believe the next super-short trade opportunity will be.
*I remain entirely on the sidelines..and seeking an index short from the sp'1710/20s, right now that seems viable by this Friday, but I'm in no hurry to take on a heavy short position across the weekend.
a little more later...